Aircraft: A319
Phase of flight: Final Approach
Anomaly: Aircraft Equipment Problem Less Severe; Deviation / Discrepancy - Procedural Other / Unknown; Inflight Event / Encounter CFTT / CFIT

Our night flight to Denver was uneventful with several weather deviations enroute and during descent. We were cleared to descend via the CREDE2 Arrival into DEN. Passing thru FL180 the Descent Checklist was completed and the current altimeter was read off from the ATIS sheet. Descent profile was flown and all speed and altitude restrictions were met; with no ATC inquiry. Speed restrictions were later removed by Approach Control. Weather was CAVU. Downwind at assigned altitude of 11;000 FT; a slow down was directed and instructions were issued to us for a vector to intercept [Runway] 16R; and a visual approach. A normal approach was underway with glideslope and PAPI eyeball intercept; way outside the FAF. The aircraft was fully configured early and above 2;000 FT AGL. All systems normal. All displays on PFD and ND screens normal. On speed and on glideslope profile; +/- 1/2 dot glideslope. At 1;000 FT AGL the First Officer read the appropriate checklist and noticed abnormal LDG MEMO text. Before he could say anything; our ND screens went full RED and EGPWS went off with full TERRAIN warning. An immediate go-around was initiated. When the dust settled; heading out and downwind; we were given an updated altimeter setting; headings and altitude for another approach; and a runway change to [Runway] 16L .We quickly discussed what happened; completed appropriate checklists; housekeeping; and set up a game plan for another approach. We had no immediate clue as to why we got an EGPWS Terrain warning at 1;000 FT over flat land on approach; stabilized and on glideslope.The First Officer did observe; just before the EGPWS activated; that the screen showed only green Seat Belt; No Smoking; and also Ground Spoilers Armed. This was an incorrect display for the situation. Given VFR situational awareness; confusion and lack of problematic terrain; EGPWS was disabled for the next approach and all went well. I then called and discussed this event with an ATC Supervisor; Dispatch; Duty Manager; and Maintenance Control. Learning point: When we received an updated altimeter setting after the go-around; we were surprised to see our current setting low and incorrect; causing us to be slightly high in reality. It appears that the wrong airport ATIS printout was reviewed and announced when setting the Baro Altimeters. Given that; the altimeter discrepancy was never enough for ATC to question any altitude discrepancies. With continuing debrief and consultation with the training department and our Airbus Techs; it is possible that our incorrect altimeter setting was the reason for the EGPWS Terrain Warning and landing memo issue at 1;000 FT. Otherwise a possible map shift or system fault. Further sleuthing will continue. Reconfirmation of the correct airport ATIS being read during high workload descents is now a given; as is in normal operations. A319 Captain experiences an EGPWS warning at 1;000 FT AGL during night visual approach to Runway 16R at DEN. A go-around is initiated and the flight returns for another approach with the EGPWS deactivated. An altimeter setting error is discovered during the next approach causing the aircraft to be higher than actual; but the impact of this error on the EGPWS is not clear.